Bear Stearns Hedge Funds File For Bankruptcy

Law360, New York (August 1, 2007, 12:00 AM EDT) -- Two Cayman Islands-based Bear Stearns hedge funds that ran into trouble over risky investments connected to subprime mortgage loans filed for bankruptcy protection late Tuesday.

The two hedge funds, Bear Stearns High-Grade Structured Credit Strategies Master Fund Ltd. and Bear Stearns High Grade Structured Credit Strategies Enhanced Leveraged Master Fund Ltd, filed for Chapter 15 bankruptcy protection in the U.S. District Court for the Southern District of New York.

Both funds listed debts and assets in excess of $100 million in their bankruptcy petitions.

A bankruptcy...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.